With a mission to preserve active lifestyles through personalized bone and joint care, the practice applies the latest state-of-the-art technology. With MRI and x-ray facilities and onsite physical therapy, OrthoNY ensures patients can receive all their treatment in one convenient place.
In the past 3 years, OrthoNY has grown through merger and acquisition, with more than 177,000 patient visits and 25,000 surgeries per year. As the practice grew, so did the demand and complexity of patient billing and A/R recovery processes. With patient A/R, phone calls, and billing questions at all-time highs, OrthoNY realized that either outsourcing or hiring an entire in-house team to manage patient billing would be necessary to scale. That’s why they turned to Millennia to streamline their patient billing processes.
OrthoNY implemented a comprehensive approach to patient billing that includes an in-house policy of 100% copay payment at the time of service and partnered with Millennia to handle patient education regarding out-of-pocket costs as well as all patient billing services from day one of patient responsibility.
“We’ve seen a significant increase in our patient receipts,” says Diane Gerry, Director of Patient Financial Services for OrthoNY. “Millennia exceeded our goal of bringing in $700,000 annually. Millennia generated $860,000 of additional revenue in less than a year.”
The staff has become significantly more productive as Millennia has allowed them to move resources away from patient billing questions and patient A/R management to other areas of the practice such as insurance A/R and follow up. Phone call volume was a big source of frustration for the staff as they were pulled away from more important tasks. “We have a round-robin queue to manage phone call volume and we used to have 11 people answering phones every day all week and now only 2-3 people have to be in the queue each day,” says Gerry.
In addition to a 50% decrease in patient phone call volume, Business Office Manager Lisa O’Connell notes that one of the most valuable impacts to the staff has been the decreased time spent on preparing statements and managing patient billing and past due collections. “Our patient statements are now fully automated. Millennia handles returned mail, address verification, inbound patient phone calls, patient payments and patient payment posting into our PMS. It’s a seamless process that has not only saved a ton of staff time, but over $96,000 in statement costs as well.”
Patients now know their financial responsibility sooner, and Millennia makes it easy for patients to pay with flexible options including a custom OrthoNY-branded online patient billing portal.
Diane Gerry adds that going back to the old way of patient billing is not an option. “The Millennia team is like an extension of our staff. We’d have to hire 10 more people to effectively manage the patient billing and A/R recovery process. They’ve been a great partner for us.”